Wells Fargo & Company Cuts Allegion (NYSE:ALLE) Price Target to $155.00

Allegion (NYSE:ALLE) had its target price reduced by Wells Fargo & Company from $175.00 to $155.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the scientific and technical instruments company’s stock.

Several other research firms have also issued reports on ALLE. Barclays dropped their price target on Allegion from $180.00 to $176.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. JPMorgan Chase & Co. dropped their price target on Allegion from $190.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Allegion in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.13.

Allegion Stock Up 0.1%

Shares of Allegion stock opened at $141.16 on Wednesday. The business has a 50-day moving average of $157.76 and a 200-day moving average of $163.87. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.84 and a quick ratio of 1.16. The company has a market capitalization of $12.16 billion, a PE ratio of 18.97, a P/E/G ratio of 3.05 and a beta of 1.02. Allegion has a 1-year low of $116.57 and a 1-year high of $183.11.

Allegion (NYSE:ALLE) last released its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.07). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. Allegion had a return on equity of 38.06% and a net margin of 15.83%.The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 EPS. Allegion has set its FY 2026 guidance at 8.700-8.900 EPS. As a group, equities analysts forecast that Allegion will post 7.77 EPS for the current fiscal year.

Allegion Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a $0.55 dividend. This is an increase from Allegion’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, March 13th. Allegion’s dividend payout ratio (DPR) is 29.57%.

Insider Transactions at Allegion

In other news, Director Steven Mizell sold 1,000 shares of Allegion stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $161.51, for a total value of $161,510.00. Following the transaction, the director directly owned 4,915 shares in the company, valued at approximately $793,821.65. The trade was a 16.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sue Main bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $149.61 per share, for a total transaction of $299,220.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $299,220. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.23% of the company’s stock.

Institutional Trading of Allegion

A number of hedge funds have recently modified their holdings of ALLE. Westside Investment Management Inc. boosted its stake in Allegion by 100.0% during the third quarter. Westside Investment Management Inc. now owns 140 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 70 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Allegion during the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. increased its stake in Allegion by 120.9% in the third quarter. Hantz Financial Services Inc. now owns 148 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Pinnacle Bancorp Inc. raised its position in Allegion by 255.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 160 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 115 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in Allegion in the third quarter worth about $29,000. Institutional investors own 92.21% of the company’s stock.

Allegion Company Profile

Allegion plc (NYSE: ALLE) is a global provider of security products and solutions focused on ensuring the safety and security of people and property. The company was formed in December 2013 through a corporate spin-off from Ingersoll Rand and is head­quartered in Dublin, Ireland. Allegion’s core mission is to deliver innovative mechanical and electronic access control systems for a wide range of end markets, including commercial buildings, residential properties, institutional facilities, and industrial sites.

The company’s product portfolio spans mechanical locksets, door closers, exit devices, key systems and cylinders, as well as a growing suite of electronic and smart access control offerings.